“Can a PLDT-incubated wallet evolve into the Philippines' dominant consumer + SMB digital bank by layering credit, savings, and crypto on top of payments rails?”
Voyager Innovations was spun out of PLDT/Smart in 2013 to commercialize the Smart Money/PayMaya mobile wallet franchise. After raising heavily from KKR, Tencent and IFC in 2020-2021, it pivoted from being purely an e-wallet operator into a full-stack digital bank by securing a BSP digital bank license for Maya Bank. The 2022 rebrand consolidated PayMaya + Maya Bank into a single 'Maya' consumer brand, with Voyager Innovations as the holding/platform parent. Today the strategy is to layer credit (Maya Flexi Loan, Paleng-Kita), savings, crypto, and insurance on top of payments-driven engagement.
Voyager Innovations discloses Maya Bank, Inc. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Voyager Innovations does not disclose a bank charter of its own; its banking services are provided through Maya Bank, Inc. (in-house).
Voyager Innovations processes payments through Maya / PayMaya (self-operated) and Maya Business acquiring (self-operated).
Voyager Innovations's cards are issued through Maya Philippines, Inc. (in-house).
Voyager Innovations's lending and capital products are provided by Maya Bank (in-house).
The Embedded Finance Index 2026 maps 4 layers in Voyager Innovations's stack: Payments / PSP (Maya / PayMaya (self-operated) and Maya Business acquiring (self-operated)); Banking / BaaS (Maya Bank, Inc. (in-house)); Card issuing (Maya Philippines, Inc. (in-house)); Lending (Maya Bank (in-house), Maya Flexi Loan (up to ₱2M for merchants), Paleng-Kita (collateral-free credit for market vendors and drivers) and Maya consumer credit).
Voyager Innovations is founded in 2013 and headquartered in Mandaluyong City, Philippines.
Voyager Innovations has raised $713M in total (latest round: $210M (2022, led by SIG Venture Capital); valuation: $1.4B (2022)).
Get a read on where your own stack stands against Voyager Innovations and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.